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Started By
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re: What’s the least amount a check would have to be for you not to even cash it?
Posted on 12/18/18 at 5:35 pm to DisplacedBuckeye
Posted on 12/18/18 at 5:35 pm to DisplacedBuckeye
quote:
It does matter.
Answer the question.
As to when it costs the company "money" it does not. I've already told you where the money is. It's in the company's account, but at the time between the check being written and being cashed they are only a custodian.
quote:
Your argument against a very simple point is based around the internal allocation of funds.
It's not an arguement, it's a rule of accrual accounting, it's not up for debate. That's the rule.
quote:
We both know why you won't answer the question.
I've answered it no less than a half dozen times, you just don't like the answer so you aren't acknowledging it.
1
Posted on 12/18/18 at 5:35 pm to Mingo Was His NameO
quote:
Again, you are dodging the question.
I did answer the question.
quote:
What do you do when you are working?
Working?
quote:
Not really, but I'm infinitely more qualified and knowledgeable about this than you
You haven't shown that.
quote:
Again, relegating yourself to baseless insults because you have nothing of substance.
Really?
That's what you want to focus on considering the melty rant you went on to kick this off?
Posted on 12/18/18 at 5:36 pm to Mingo Was His NameO
quote:
It's in the company's account
Correct.
That wasn't that difficult.
Posted on 12/18/18 at 5:42 pm to DisplacedBuckeye
quote:
Correct.
That wasn't that difficult.
That still doesn't mean in costs the company money when it is cash, which was your arguement. Who owns the money once the check is written the customer or the company, and when does the company write down their asset and liability to account for the expense?
Here's a short reading to help you
quote:
An outstanding check is a check that has been written by a company (and deducted from the appropriate general ledger cash account) but it has not yet cleared the bank account on which it is drawn. Hence, outstanding checks will mean that the balance in the bank account will be greater than the balance in the general ledger account (or in an individual's check register).
In the bank reconciliation process, the total amount of outstanding checks is subtracted from the ending balance on the bank statement when computing the adjusted balance per bank.
Checks that are outstanding for a long period of time are known as stale checks. In the U.S. outstanding checks are considered to be unclaimed property and the amounts must be turned over to a company's respective state after several years.
The amount of outstanding checks is sometimes referred to as float.
this will also help
This post was edited on 12/18/18 at 5:44 pm
Posted on 12/18/18 at 5:45 pm to Mingo Was His NameO
Don't regress now. We're making progress.
What happens to that money when the check is cashed or deposited?
What happens to that money when the check is cashed or deposited?
Posted on 12/18/18 at 5:46 pm to Random LSU Hero
Yeah with mobile deposit I do every check....if I had to go to the bank it would have to be at least 30-40 bucks for me to remember it most likely.
Posted on 12/18/18 at 5:47 pm to DisplacedBuckeye
quote:
What happens to that money when the check is cashed or deposited?
It changes accounts, it doesn't change ownership. The customer owned the money once the expense was incurred by the company.
I can't tell if you just aren't smart enough to understand that or too hard headed to admit it. I hope for your sake it's the latter
Posted on 12/18/18 at 6:00 pm to Random LSU Hero
I can mobile deposit a check in less than 30 seconds while sitting at the office getting paid.
So, if it has my name on it, I am putting it in the bank.
So, if it has my name on it, I am putting it in the bank.
Posted on 12/18/18 at 6:12 pm to Mingo Was His NameO
quote:
It changes accounts
Correct.
Glad we could get you up to speed. Thank you for your participation.
You should consider asking your school for a refund, though.
Posted on 12/18/18 at 6:13 pm to Random LSU Hero
Any amount
Posted on 12/18/18 at 6:13 pm to DisplacedBuckeye
quote:
Correct.
Glad we could get you up to speed. Thank you for your participation.
You should consider asking your school for a refund, though.
quote:
21cent checks
quote:
Cashing it doesn't cost them a thing.
Seems like it would cost them $0.21?
But you are still wrong through. Where the funds sit has nothing to do with the ownership
Posted on 12/18/18 at 6:20 pm to Mingo Was His NameO
We're done here. Don't regress.
Posted on 12/18/18 at 6:22 pm to DisplacedBuckeye
quote:
We're done here. Don't regress.
I'm not. You are hung up on where the money is located, that doesn't matter.
Posted on 12/18/18 at 6:27 pm to Random LSU Hero
28 years ago , I received a check from Kathy Hornsby for an overpayment on Bruce Hornsby merchandise. I kept the check for four years before depositing it with my payroll check.
The check was for $1.00
The check was for $1.00
This post was edited on 12/18/18 at 6:29 pm
Posted on 12/18/18 at 6:28 pm to Random LSU Hero
I can't imagine how lazy you'd have to be to not cash even a 1 cent check since these days most banks will let you do it with an app on your phone.
Posted on 12/18/18 at 6:29 pm to Random LSU Hero
I’ll cash any damn check!
Posted on 12/18/18 at 7:20 pm to Mingo Was His NameO
quote:
I'm not.
Good for you.
I won't allow you to go backwards.
Posted on 12/18/18 at 7:24 pm to Random LSU Hero
To make me drive to the bank independently? Enough to cover the nutt of my time and expenses. If I am already going and just cashing on more, $0.02.
Posted on 12/18/18 at 8:24 pm to go ta hell ole miss
cashed a $.99 check from Geico today. Have no idea what it's for
Posted on 12/18/18 at 8:38 pm to Random LSU Hero
I got a check for .01 and i kept that
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